Bithumb Exchange Admits Brief Abnormal Bitcoin Price Fluctuation Caused by Error in Campaign Distribution
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Bithumb Exchange Admits Brief Abnormal Bitcoin Price Fluctuation Caused by Error in Campaign Distribution
Bithumb Exchange issued an announcement today acknowledging an error in the distribution of campaign rewards, which resulted in some users receiving abnormal amounts of Bitcoin. These users subsequently sold the excess Bitcoin, triggering sharp short-term volatility in Bitcoin’s price. Bithumb’s internal control systems promptly identified and restricted trading from the affected accounts, and market prices stabilized within five minutes. Bithumb emphasized that this incident was unrelated to any external hacking attack, customer assets remain secure, and trading as well as deposit/withdrawal functions are operating normally. The exchange has pledged to handle subsequent matters transparently to ensure customers’ rights and interests are fully protected.
Navigating Web3 tides with focused insightsTechFlow News: On February 6, Bithumb Exchange issued an announcement acknowledging an error in distributing activity rewards, which resulted in some users receiving abnormal amounts of Bitcoin. These users subsequently sold the excess Bitcoin, causing a sharp, short-term fluctuation in Bitcoin’s price. Bithumb’s internal control systems quickly identified and restricted trading from the affected accounts, and market prices stabilized within five minutes. Bithumb emphasized that this incident was unrelated to any external hacker attack, customer assets remain secure, and trading as well as deposit and withdrawal functions are operating normally. The exchange has pledged to handle follow-up matters transparently to ensure customers’ rights and interests remain protected.
